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Crowley ISD board approves parameter order to refund bonds, citing roughly $5 million in early savings
Summary
The Crowley ISD Board of Trustees approved a parameter refunding order authorizing issuance of unlimited tax refunding bonds, series 2025. Financial advisers said the refinancing could save the district and taxpayers roughly $5 million, with savings front‑loaded into the first two years; the board delegated pricing authority for up to 365 days.
The Crowley Independent School District Board of Trustees voted to adopt a parameter order authorizing the issuance and sale of unlimited tax refunding bonds, series 2025, a move trustees and staff said is aimed at lowering the district’s interest costs.
Jeff Robert of Hilltop Securities told the board the refunding is similar to refinancing a mortgage: proceeds from new bonds would be used to pay off outstanding bonds at a lower rate. Robert said the proposal could "save upwards of $5,000,000 to Crowley ISD and the…
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